PIC buys Karan Beef

[BusinessTech]

PIC buys Karan Beef

The Public Investment Corporation (PIC) has agreed to buy 100% of Karan Beef in a multi-billion-rand deal.

 

[sox63]

Dear journalists, who are they buying Karan Beef on behalf of? Last I checked PIC is not in the business of completely owned subsidiaries...

 

[R13...]

Dear journalists, who are they buying Karan Beef on behalf of? Last I checked PIC is not in the business of completely owned subsidiaries...

Looks like they're funding a buyout of the company by Karan's management.

https://www.businesslive.co.za/bd/c...seek-pic-finance-to-buy-family-owned-company/

 

[sox63]

Looks like they're funding a buyout of the company by Karan's management.

https://www.businesslive.co.za/bd/c...seek-pic-finance-to-buy-family-owned-company/

Interesting! I wonder who the BBBEE partners are and the chunk they get. On the face of it, a good company to acquire, uncertainty around land or not imo...